This chemical is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key reagent for forming carbon-carbon bonds, enabling the construction of complex organic molecules. Its boronic acid group facilitates the coupling with aryl or vinyl halides in the presence of a palladium catalyst, making it valuable in pharmaceutical research and material science. Additionally, it can be used in the development of sensors or probes due to its ability to interact with diols and other functional groups, enhancing applications in analytical chemistry and bioimaging.